The Active Pharmaceutical Ingredient Market is all set to reach US$ 1.2X between 2021-2031 at a CAGR of 4.2%. With technological advancements engulfing the healthcare vertical, VR (virtual reality) and AR (Augmented Reality) are being incorporated to train the medical interns and also for surgery simulation and patient treatment. As of now, virtual impairments, cancer, depression, autism are being treated with VR. The others are expected to follow suit soon.
Prevalence of chronic diseases is constantly on the rise across the world. This is leading to a major health burden on governments and the society in general. Out of these, cardiovascular diseases make up around half of the total deaths caused by chronic diseases. According to the World Health Organization, in 2016, ischemic heart disease and stroke accounted for around 27% of total deaths, worldwide. Chronic obstructive pulmonary disease was the third most cause of death in the same years. These non-communicable diseases were major causes of deaths globally, ranging from 37% in lower economies and 88% in countries with high income.
Rising cases of chronic diseases is surging the need for pharmaceutical products, thereby increasing the need for pharmaceutical ingredients (APIs), especially small molecules.
Persistence Market Research predicts that the global active pharmaceutical ingredients market to exhibit a CAGR above 4% over the forecast period (2021-2031).
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Companies covered in Active Pharmaceutical Ingredient Marke Report
- Pfizer Inc.
- Boehringer Ingelheim International GmbH
- Bristol-Myers Squibb Company
- Cipla Inc.
- Eli Lilly and Company
- Hoffmann-La Roche Ltd
- GlaxoSmithKline plc
- Hepalink Group
- Lonza
- Merck & Co. Inc.
- Sandoz International GmbH
- Aurobindo Pharma Limited
- Fresenius Kabi LLC
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Key Takeaways from Market Study
- Non-controlled substances hold over half of the small molecule API market share, making them the predominant growth contributing factor.
- Pharmaceutical and biopharmaceutical companies, combined, to contribute over 70% of the market revenue.
- Major markets for active pharmaceutical ingredients to be East Asia, South Asia, North America, and Europe.
- China and India to be the most lucrative markets for APIs.
- Due to the impact of COVID-19, the API market saw a slight decline in growth in 2020, at 3.4%.
“Rising prevalence of chronic disorders and increasing research on small molecule APIs are expected to propel growth of the global active pharmaceutical ingredients market over the coming years,” says a Persistence Market Research analyst.
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Advancements in API Manufacturing
API manufacturing will require implementation of continuous new technologies and tools to speed up the process and deliver consistent quality products. Hence, major players are highly focused on the production of optimized APIs with technological advancements in processes such as powder handling, lyophilization, process control, continuous flow chemistry, and process control.
Rise in Outsourcing to Merchant Companies
Even if big pharma players have established facilities for the production of APIs and pharma products, the trend of outsourcing is still on the rise. Many companies are outsourcing their requirements to cut costs on expensive equipment, manpower, and infrastructure. It is estimated that 40% of pharma products are manufactured by third-party vendors.
- For instance, AstraZeneca used to have several manufacturing centers in North America, but currently, only 15% of its APIs are made in-house, and the company is looking to outsource all manufacturing overseas. From the last 20 years or so, directly sourcing APIs from China and India has increased due to the production capabilities of these countries. Also, stringent regulations in the West have attracted companies toward China and India.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the active pharmaceutical ingredients (API) market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031, on the basis of API (small molecules [controlled substances {natural opioids and semi-synthetic/synthetic opioids}, non-controlled substances {NSAIDs, anti-infective, antimicrobial, oral anti-diabetics, anti-hypertensive, and others}, and HPAPI], peptides & oligonucleotides, carbohydrate drugs, and steroidal drugs), end user (contract manufacturing organizations (CMOs), pharmaceuticals, contract development & manufacturing organizations (CDMOs), and compounding pharmacies), across seven key regions of the world.
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